Dec 5, 2012 4:30pm PST
, copper and gold in indonesia, andthey've got compose the democratic public of congo, and they have some mining assets in the united states and south america as well. but what the u.s. oil and natural gas assets bring to the table, in addition to commodities, is well outside freport's existing portfolio of business, is a reduced level of country risk, especially compared to what you undertake when you do business in indonesia or the d.r.c. >> tom: just a half minute left, and i want to ask you about the stock for freport mac moran, how should long-term investors take a look at this? >> well, long-term investors that had been sitting in freport original need to ask themselves are you really interested in this oil and gas story. because you need to remember investors to have undertaken this deal on their own. they didn't need freporto go out and lever up and pay a 39% premium for planes. >> tom: dan, do you own freport? >> i do not. >> tom: daniel rohr with us, he is with morningstar. >> reporter: i'm erika miller in new york. tomorrow, we'll talk to the c.e.o. of kitchen chain sur la tabl
Dec 5, 2012 11:00pm EST
overseas copper holding is in indonesia. they had trouble there. plus, recently the orders become harder to pull out of the ground, less expensive, is the writing on the wall that freeport might face expropriation some day? is this the beginning of the end of the company's best asset? and these acquisitions show the fallacy of playing the mining stocks instead of the ore. those who like copper, reach for freeport endlessly. best way to invest in copper is jjc, my initials and also the etf. they like their substantial gold holdings, go with the gld. yes, you have every reason to be upset if you own fcx. to me it seems that freeport got the short end of the stick and big shareholders other than the company's chairman can't be blamed for dumping the stock right into the selloff. and by all means, please, ring the register tomorrow, no later, tomorrow on plains and mcmoran exploration. stay with cramer.
Dec 6, 2012 9:00am EST
of japan, korea, vietnam, thailand, singapore, indonesia, burma; all of which represent the future of the united states in terms of trade, security and cultural growth in the coming decades. with respect to burma, there was a great moment for me to be able to sit down and see aung san suu kyi recognized by the congress a month or so ago, coming to this country as a member, an elected member of their parliament. we began the change in that relationship from our office, directly from our office based on work that i had begun and become interested in over a period of six years before i was elected to the senate. we, i'm very proud to say, laid the groundwork for the historic visit in 2009 from inside our office. often i would say against the will and against the advice of our own state department. we used validators. we talked to people we knew in the region. i became the only american leader ever to meet with general shui, leader of the military junta, to express my belief that we could work forward to have a different relationship. i met with aung san suu kyi, and i hope that those
Dec 6, 2012 4:00am EST
extent. asia, indonesia, africa. they have a very strong balance sheet. so they're in the position to really gain market share even in the context of a slightly slowing macro picture. but interestingly since the third quarter ims, we heard today from standard chartered again and they were quite upbeat particularly for the likes of singapore and i sandia and so forth. so outlook for revenue is actually quite positive and it's on quite a low multiple and could easily rerate towards 12. >> so you reckon own it. >> i think so. even if the the growth prospects were quite limited, i think the balance sheet strength alone justifies expansion. i think it's quite attractive certainly to the rest of the sector. >> citi shedding 11,000 job, around 4% of its workforce. some say it's part of a strategy by the new ceo. citi shares were up on that. so what do you make of ubs getting out of fixed income, citi shedding a huge chuck of jobs. >> i would actually go much further than that. we've had an a revolution. pure to pure growing at 50% per annum. i think it's time to redesign the way they do b